Claude Resources's Profile
Claude Resources Inc. Saskatoon, Saskatchewan, TSX : CRJ; NYSE.A : CGR, is a fully integrated Canadian mining operation that has a proven ability to “Discover, Develop & Deliver.”
The company has a strong operating base and significant upside. Having been in operation during times of low gold prices, Claude Resources has proven that it has the ability to survive challenging business environments.
Today, the Company is entering a new era in its development.
Of particular note is the expansion of gold reserves and resources at the Seabee mine in northern Saskatchewan (Canada) and the dramatic potential of the Madsen property in Ontario (Canada).
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Produced 45,466 gold ounces for 2008
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Forecasted production, estimated 54,000 ounces for 2009
Madsen, Red Lake, Ontario
The Madsen Property at Red Lake, Ontario represents a significant exploration opportunity for Claude Resources
Located in the prolific gold producing Red Lake area and only ten kilometers southwest of the town of Red Lake, the property is accessible by an all-weather road.
The 10,000 acre property contains a 550 ton per day mill, a functioning 4,000 foot operating shaft and a tailings pond. Of significance is the fact that the mill, the shaft and the tailings pond are permitted facilities.
The Madsen mine has a rich history. From 1938 until the mine’s closure in 1976, gold production exceeded 2.4 million ounces.
Located in the prolific gold producing Red Lake area and only ten kilometers southwest of the town of Red Lake, the property is accessible by an all-weather road.
The 10,000 acre property contains a 550 ton per day mill, a functioning 4,000 foot operating shaft and a tailings pond. Of significance is the fact that the mill, the shaft and the tailings pond are permitted facilities.
The Madsen mine has a rich history. From 1938 until the mine’s closure in 1976, gold production exceeded 2.4 million ounces.
Madsen Exploration Highlights:
In 2008, the Company reached an important milestone with the commencement of its underground drill program. Underground and surface drill results will continue to be reported in a systematic and ongoing basis.
Underground Drilling 8 Zone
In December of 2008, the Company commenced its directionally-assisted underground drill program from the 10th level of the Madsen mine shaft. Phase 1 of the underground program is targeting the 8 Zone system with 12,000 meters of drilling and is expected to continue through to the second quarter of 2009.
On February 17, 2009, the Company reported the assay result from its first intercept of the 8 Zone underground drill program.
The assay reported confirmed the high grade mineralization 130 feet down plunge of historic mine development and is consistent with historic drilling above and below the 27th level that returned drill intercepts including 0.81 oz/ton over 14.4 feet, 2.76 oz/ton over 6.6 feet, 2.22 oz/ton over 3 feet and 1.25 oz/ton over 3 feet. (See Media Release: Claude Resources Intercepts 3.71 oz/ton of gold over 2.5 feet at Madsen Deep - Includes Figures (pdf))
Phase 2, to be launched in the second half of 2009, will target infill-drilling of the 8 Zone to 250 meters on-plunge from infrastructure as well as the testing of conceptual targets on strike and on plunge.
The 10,000 meter Phase 2 component of the underground program is expected to operate until the end of 2009
Seabee Mine, Laonil Lake, Saskatchewan
Claude’s producing asset is the 100% owned and operated Seabee gold mine located at Laonil Lake, Saskatchewan, approximately 125 kilometres northeast of the town of La Ronge.
Claude commenced commercial production at Seabee in December 1991. The Seabee mine is a narrow vein, underground operation with growing reserves. In 2007, Santoy 7 was brought into commercial production, adding to the capacity of the Seabee operation going forward.
An Environment Impact Study is being prepared for Santoy 8 with the expectation that it will be readied for production by the second half of 2009. Since start-up, the Seabee operation has produced approximately 830,000 ounces of gold.
Over the previous five year period the Company achieved average annual production at Seabee of 44,800 produced ounces, or an average of 11,200 produced ounces per quarter. Recent production results indicate that an escalation of historical production can be achieved and sustained
Exploration : April 23, 2008
Claude Resources Inc. Intercepts 32.52 g/t Au Over 4.80 Meters (1.05 oz./t over 15.75 ft.) at Seabee
Management & Directors
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Management
& DirectorsNeil McMillan, President and Chief Executive Officer, Director
Neil McMillan is President and Chief Executive Office of Claude Resources in addition to serving on the Company’s Board of Directors. He joined Claude in 1995 following sixteen years in the financial sector where he managed the RBC Dominion Securities operation in Saskatoon. Mr. McMillan also serves on the Boards of Shore Gold and Cameco Corporation. He has been a member of the Board of Directors at Claude Resources since 1996.
Rick Johnson, C.A.,Chief Financial Officer and Vice President Finance
Rick Johnson joined Claude Resources in 1996. He was appointed to his present position in 2004, having previously served as Company Controller. Mr. Johnson holds a Bachelor of Commerce degree from the University of Saskatchewan and is a member of the Canadian Institute of Chartered Accountants.
Philip Ng, P. Eng., Vice President Mining Operations
Philip Ng is a Professional Engineer and holds B.Eng. and M.Eng. Degrees in Mining Engineering from McGill University. He has worked for INCO at the Coleman-McCreedy East Mine in Sudbury as well as Hudson Bay Mining and Smelting Company in Manitoba where he held senior positions in engineering and operations. Mr. Ng brings over fourteen years of senior mining experience to Claude Resources.
Brian Skanderbeg, P. Geo., Vice President Exploration
Brian Skanderbeg joined Claude Resources as Exploration Manager in April 2007 having previously worked for Goldcorp, INCO and Helio Resources, holding positions in both exploration and operations. He holds a B.Sc. from the University of Manitoba, an M.Sc. from Rhodes University, South Africa and brings extensive experience in orogenic gold systems.
Josef Spross, Chairman
Josef Spross has a forty year mining history including positions as Senior Vice President, Operations and Chief Operating Officer at Cameco. During that tenure, Mr. Spross was involved at the most senior levels in development and production at projects including the Key Lake Mine, the McArthur River Mine and the Kumtor Gold Project. He has also served as President of the Saskatchewan Mining Association and sits on the Board of Directors of Centerra Gold Inc. Mr. Spross joined the Claude Resources Board of Directors in 2006 and became the Chairman in January 2007.
Ronald J. Hicks, C.A., Director
Ron Hicks is a member of the Institute of Chartered Accountants of Saskatchewan (ICAS). He spent forty-one years with Deloitte where he was a partner at the time of his retirement in 2000. He is currently a Director of Ducks Unlimited Canada and a member of the Corporate Governance Committee. Mr. Hicks has served as a director with Dickenson Mines Limited, Kam Kotia Mines Limited, Saskatchewan Government Insurance and Prairie Malt Limited. Mr. Hicks has also served as Chairman of the Saskatchewan Roughrider Football Club (Saskatoon Committee), Ducks Unlimited (Saskatoon Committee), ICAS Public Practice Review and Appraisal Committee and Admissions Committee. Mr. Hicks joined the Board of Claude Resources in 2006.
Ted Nieman, Director
Ted Nieman is Senior Vice-President of Canpotex, the world’s largest exporter of potash. In that capacity he is a member of the Canpotex Executive Management group and a board member of all of the organization’s subsidiaries and affiliates. Mr. Nieman has held a number of key positions at Canpotex including General Counsel, Corporate Secretary and Chief Operating Officer. He joined the Board of Directors of Claude Resources in 2007.
J. Robert Kowalishin, P.Eng., Director
Robert Kowalishin held a number of senior positions with the Trane Company, a division of American Standard, over the course of his forty-two year career with the company. Following more than two decades as the Trane franchise owner in Saskatoon, Mr. Kowalishin was appointed regional manager for the Ontario region, for Canada and the north-eastern U.S. Upon retiring, he became a consultant and adviser to the Trane Company’s Leadership Development Program. Mr. Kowalishin joined the Claude Resources Board in 2007.
Ray McKay, Director
Ray McKay, recently retired as Chief Executive Officer of Kitsaki Management Limited Partnership, has held senior positions within the aboriginal business community, with the provincial government and in the education sector. A former teacher, Mr. McKay assumed senior roles including Deputy Minister of Saskatchewan Northern Affairs, during a career in which he was recognized for his leadership role in education, employment and development. Mr. McKay joined the Claude Resources Board in 2007.
Broker Fact Sheet
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CRJ Broker Fact Sheet
Thu Mar 29, 2019Fact sheet details
Company Links
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Tue Feb 17 2009, 07:18AMSeabee mine - 17 years of positive cash flow ; Madsen mine - geology is similar to that of Goldcorp